Solutions for Investors

River Park Glen is a unique property where the majority of units are owned by investors. On-Site Solutions not only manages the Condominium Corporation but also handles the rental management for most units. If you’ve purchased your unit as an investment, you have two options under our management: enrolling in the All-Inclusive Rental Pool or choosing Traditional Property Management.

Traditional Management

Traditional Management offers more control and potentially higher cash flow for investors who are willing to accept greater volatility and risk. Unlike the All-Inclusive Rental Pool where all expenses are pooled and shared, with Traditional Management, only the administrative costs are shared with the rest of our clients at River Park Glen. Rental income and expenses are handled unit-by-unit. When your unit is rented, you have the opportunity for maximum cash flow based on market conditions. However, when the unit is vacant, you won’t receive income and must cover operating expenses yourself.

Owners opting for this route must maintain a $3,000 reserve fund to cover expenses over and above the rental revenue. If the fund drops below $3,000, future cash flow will be used to replenish it. To enroll in this option, your unit must meet certain maintenance standards designed to ensure there are no major maintenance expenses expected in the near future. If it doesn’t meet these standards, we can repair or renovate the unit for you at cost.

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Which Option is Right for You?

The best choice depends on your investment goals, risk tolerance, and available capital. The All-Inclusive Pool offers steady cash flow even when your unit is vacant. This makes it convenient for investors seeking a passive investment with stable income and minimal risks. In contrast, Traditional Management may provide higher cash flow, but only when your unit is rented, and you will be responsible for all expenses. As such, Traditional Management may be better for investors seeking higher returns and more control, but with greater risk and responsibility.

The chart below compares the pros and cons of both options. For a more detailed description, hover your mouse over any of the terms below.

The chart below compares the pros and cons of both options. For a more detailed description, click on any of the terms below.

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Our Renovation Process

We offer one type of renovation package. It uses the same materials and follows the same general process every time. This allows us to complete renovations very efficiently. It usually involves conducting preventative maintenance on all plumbing and heating systems, as needed, repairing or replacing fixtures like light fixtures, switches, outlets, ceiling fans, smoke detectors, appliances, cabinets and countertops, conducting preventative maintenance behind shower surrounds then tiling, adding tile backsplashes to the kitchen, replacing the flooring from worn carpet or linoleum to luxury vinyl plank, installing new baseboards and trim, and giving the unit a full paint. We use durable, rental friendly materials, and a clean, modern design (examples below).

Based on independent appraisals, our renovations are shown to increase the appraised property value by approximately $25,000 on costs well below that, resulting in a strong return on investment for our clients. These renovated units rent for a premium (typically 20% to 30% more) and often attract a higher caliber of tenant; which is good for you and good for the River Park Glen community. For an interactive 3D tour of an example unit, click the button below. You can click on the camera icons to see before photos of each room as well as a description of the renovations.

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Why Repair my Unit?

Leaving a unit in poor condition to save money often leads to costly problems down the road and will severely limit the quality of tenant you will be able to find. Deferring maintenance is a risky strategy which often costs more over the long-term. Investing in regular preventative maintenance and renovations so that you can avoid emergency repairs and attract higher-quality tenants is the best way to protect your investment.

Can I Self-Manage?

Managing on your own can be a viable strategy if you live close by, have experience managing properties, and the time to commit to it. Please review the considerations below. By taking these precautions, you can reduce your risks and better manage your rental property for long-term success. 

Why On-Site Solutions?

On-Site Solutions isn’t your standard real estate brokerage. We were founded over 30 years ago to provide specialized management for group property investments across western Canada. Our deep expertise in managing large multifamily investment properties with numerous stakeholders, allows us to deliver a full-service solution with sophisticated risk mitigation and financial management.

By partnering with On-Site Solutions, you benefit from a team of on-location professionals at River Park Glen who handle everything from leasing, to parking, to bylaw, to emergency repairs. Our on-location team ensures that day-to-day management is convenient for your tenants, and problem-free for you.

Moreover, each member of On-Site’s senior management team is a unit owner at River Park Glen, meaning we are personally invested in its success of the community and are with our clients every step of the way! 

How do I Get Started?

We offer a complimentary inspection of your unit to evaluate its condition and eligibility. After the inspection, you’ll receive a detailed report summarizing our findings and recommendations. This free and there is no obligation to proceed.

To schedule, please contact us. We will be happy to answer any questions you may have.